New Orleans Housing Market: Home Prices & Rent
New Orleans home values since 2000
Last few years
Rent in New Orleans
Owning vs renting, monthly
Buying the typical New Orleans home with 20% down at this week's 7.32% 30-year rate costs about $1,734/month (principal, interest plus ~1.5% a year for tax and insurance) vs $1,577/month typical rent.
Rate: Freddie Mac, week of Oct 22, 2026. Estimate for comparison only.
What changed this month
- New Orleans homes are worth 12% less than at the 2022 peak
New Orleans vs Louisiana vs the U.S.
| Typical home | 12-month change | Typical rent | |
|---|---|---|---|
| This metro | $257k | +1.6% | $1,577/mo |
| Louisiana | $214k | +2.1% | - |
| United States | $366k | +1.2% | $1,932/mo |
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Common questions
Are home prices falling in New Orleans?
No - the typical New Orleans-area home value is up 1.6% over the past 12 months, at $257k (September 2026). Values are 12% below their July 2022 peak of $292k.
Is the New Orleans housing market crashing?
Home values are 12% below their July 2022 peak and up 1.6% over the past year - a rising market, not a sudden collapse. Whether that continues isn't knowable from the data - this page updates every month when new figures come out.
How much is rent in New Orleans?
Typical rent in the New Orleans metro is $1,577 a month (September 2026), +1.7% over 12 months.
How much income do you need to buy a home in New Orleans?
About $83k a year to afford the typical home with 20% down, spending no more than 30% of income on housing (September 2026).
Nearby and similar metros
Baton Rouge, LA · Greensboro, NC · Birmingham, AL · Columbia, SC · Tulsa, OK
Sources: Data Provided by Zillow Group (Zillow Home Value Index and Zillow Observed Rent Index, September 2026; income needed and listing data). 30-year mortgage rate: Freddie Mac PMMS. Figures are for the New Orleans, LA metro area. How we calculate.